TASI Drops 2.3% in Thursday's Close to 9,696 Points, Lowest Closing Since 2021
TASI closed Thursday at 9,696 points, down 231 points or 2.3% from the previous session, its lowest close since 2021 and an eighth straight weekly decline.
The main index of the Saudi Stock Exchange (TASI) ended Thursday's session on October 22 down by 2.3%, losing 231 points to close at 9,696 points, its lowest closing level since 2021, according to the English newspaper Asharq Al-Awsat.
Trading value reached around 4.9 billion riyals, and the index moved during the session to a low of 9,640 points. Thursday's drop pushed the index's weekly losses to more than 400 points, or 4.1%, marking the eighth consecutive week of decline.
Losses were led by Saudi National Bank shares, which fell more than 5% to 34.62 riyals, with about 9 million shares traded, while Aramco and Al Rajhi shares dropped 1% each to close at 25.40 riyals and 59.80 riyals, respectively. Ma'aden fell 5% to 55.90 riyals, while shares of Retal, Al Yamamah Steel, East Pipes, Jahez, Gulf Training, and Saudi Steel Pipe ended the session with losses ranging between 5% and 9%.
On the other hand, Al-Etihad share jumped 10% to 6.16 riyals, followed by JAZADCO with gains exceeding 9%, while shares of Al Arabia, UCIC, and Kayan rose by percentages ranging between 1% and 3%.
What do these terms mean?
TASI Index: The main benchmark index for the Saudi Stock Exchange, measuring the performance of listed companies.
Trading Value: The total value of shares traded during the session, measuring the volume of activity in the market.
Heavyweight/Blue-chip Stocks: Shares of large companies whose performance represents a major weight in the index and influences the market direction.
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